In his immediate response to the 2016 Budget, Simon Collins, UK Chairman of KPMG, commented:
“Set against the backdrop of lower than expected UK growth forecasts, the Chancellor set out his stall with small businesses to encourage them to drive the country’s future growth. With a variety of measures aimed at the more traditional butcher, baker and candlestick-maker across the country but also the digital age ‘kitchen table’ entrepreneurs.
“Substantial changes to business rates, National Insurance, Capital Gains Tax and Corporation Tax for small businesses is smart and likely to stimulate activity.
“And how will he pay for it? Increased and improved regulation to capture more tax from multi-national companies and – the sweetener – sugar tax.”
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For further information please contact:
Sorrelle Cooper, Head of Communications, KPMG
T: +44 (0)7932 078 218
KPMG Press office
Tel: +44 (0)2076 948 773
KPMG LLP, a UK limited liability partnership, operates from 22 offices across the UK with approximately 12,000 partners and staff. The UK firm recorded a revenue of £1.96 billion in the year ended September 2015. KPMG is a global network of professional firms providing Audit, Tax, and Advisory services. It operates in 155 countries and has 174,000 professionals working in member firms around the world. The independent member firms of the KPMG network are affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity. Each KPMG firm is a legally distinct and separate entity and describes itself as such.